Received notification my credit score just dropped 40 points.

[doitmyself]

Hmmmmmmmmmmmm. I'm in a similar as others above: at my age and because of good fiscal management my score is below 800. We don't have any debt, everything is paid off regularly, no dings for missed payments, etc..

What are some practical, safe ways to increase ones credit score for the pure sake of just improving your score when borrowing money is not a necessity? Does using and paying off small credit card use monthly improve your score? A google search didn't produce much useful information.

Or, is this thread a bit off kilter due to the few people here that do this as a hobby?

 

[Pablo]

Hmmmmmmmmmmmm. I'm in a similar as others above: at my age and because of good fiscal management my score is below 800. We don't have any debt, everything is paid off regularly, no dings for missed payments, etc..

What are some practical, safe ways to increase ones credit score for the pure sake of just improving your score when borrowing money is not a necessity? Does using and paying off small credit card use monthly improve your score? A google search didn't produce much useful information.

Or, is this thread a bit off kilter due to the few people here that do this as a hobby?

The easiest way is just request credit limit increases, of course continue your normal card usage and pay offs, and by the virtue of less percent of your credit being used = score improves, maybe 25-35 points, depending of course..........

 

[Pablo]

My FICO dropped 9 points.

The horror!! I may not sleep.

 

[GON]

My FICO dropped 9 points.

The horror!! I may not sleep.

Lol, wait to you insurance companies significantly raise your rates, because you dropped below a certain number on the actuarial tables for alleged credit risk.

 

[Pablo]

Lol, wait to you insurance companies significantly raise your rates, because you dropped below a certain number on the actuarial tables for alleged credit risk.

I have to switch? Again??

I think my stomach hurts.

 

[2strokeNorthstar]

My FICO dropped 9 points.

The horror!! I may not sleep.

That happens to me often. It fluctuates up and down even with no changes in my spending habits. It stays over 800 so at that point I think its irrelevant.

 

[Pablo]

That happens to me often. It fluctuates up and down even with no changes in my spending habits. It stays over 800 so at that point I think its irrelevant.

That was my point. It dropped to 837.

Mainly because we used a bit of our credit limit for 25 days for some air fare, hotel, AirBNB, restaurants. I waited until today to pay, due Oct 15. Kinda silly really.

 

[GON]

That was my point. It dropped to 837.

Mainly because we used a bit of our credit limit for 25 days for some air fare, hotel, AirBNB, restaurants. I waited until today to pay, due Oct 15. Kinda silly really.

Absolutely silly. Just a shame how risk is accessed by insurance companies. And accessed is likely the wrong word. How insurance companies find ways to exploit tiny movements in credit scores to justify increased rates, with no actual increased risk to the insurance company.

 

[CKN]

That happens to me often. It fluctuates up and down even with no changes in my spending habits. It stays over 800 so at that point I think its irrelevant.

From what I have read-as long as you are over 750 you get the same rates as somebody over 800. Mine fluctuates between 800 and 824. As the monthly (credit card) spending goes up-the FICO trends down.